Business Marketing

Start Your Podcasting Business

Young entrepreneur running a podcast to reach a broader audience.
Written by MicroStartups

Podcast listening continues to increase in popularity mainly because of one important feature – podcast recordings are completely tailored to suit any situation. Whether it’s a specific interest, time constraints or a certain type of format, there is almost certainly a podcast out there that fits what’s needed.  Adding a podcast to your business plan can help you reach a broader audience, build a community of followers and get more information out easily.

Whether you have an existing business or you are ready to start your new business, adding a podcast can be highly beneficial by helping to grow your audience and influence. Learn how to successfully create, grow and monetize your podcast:

1. Name your podcast

Creating a catchy but descriptive name for your podcast lets listeners quickly know what you’ll be talking about and sets your name apart from the rest. You may want to name your podcast something close to your business name or reference your business name to help connect the two together. 

If your name doesn’t accurately describe what the podcast is talking about, or if you want the podcast to have a more narrow focus, make sure the podcast name reflects that. 

For example, if you name your business Main Street Yoga, but your podcast will provide meditation and relaxation techniques, a name like Meditation Techniques by Main Street Yoga might help provide a more accurate description. 

Each episode name should clearly identify what the specific topic of discussion will be, making it easy for listeners to find what they are looking for.

2. Determine your podcast format

Before you hit record on your first podcast episode, there are a few questions you will want to answer about how the episode formats will look, including:

  • Who are you targeting to listen to your podcast?
  • How long are you planning on making each podcast episode?
  • How frequently are you recording episodes?
  • Will you have guests and will they be in-house or remote guests?
  • Where will you upload your podcast?

You will also want to have a script ready for each podcast episode. 

Scripting your podcast doesn’t necessarily involve writing word for word what will be said from start to finish, but instead a general idea of topics you’ll be covering and questions you’ll answer. 

This is sometimes referred to as an ‘invisible script’, where the dialogue is more natural than a rehearsed script. If you are inviting guests on, have questions ready for them and be sure you’ve done your research. It’s a good idea to have generally the same format for each episode, so listeners know what to expect.

3. Register your business

If you haven’t already registered your business, you will want to get that done before you start creating marketing materials, social media accounts and operating. 

Whether you choose to Incorporate or register as a small business, you may want to first search your business name to see if it’s already an active business. If you search your name and learn that it’s already registered, anything you’ve already created using that name may need to be redone.

You can choose either to incorporate or register as a small business. The size or income of your business does not affect how you would be registered, but there are some differences between each type of registration.

4. Create a business plan

Your business plan helps give your business its best opportunity to succeed, by laying out the goals and objectives, and taking an in-depth look at your business, the industry as a whole and your target clients. 

Determine how a podcast recording fits into your business plan, what role it will play in the overall scope of the business and how you can begin promoting your podcast to help extend your reach and grow your business. 

Putting together a business plan that changes along with your business can give you a clearer picture of your business today and the path it’s headed on for the future.

5. Promoting your podcast

Building your successful podcast will likely take some promotion in order to generate growth and create momentum before you are able start monetizing your podcast. As a part of your business plan, determine how you will be promoting your podcast and likewise, how your podcast will promote your business.

All-in-one platforms, like Sounder, make it possible to create, distribute, manage and, once the foundation for your successful podcast has been set, to monetize your podcast. 

Having one platform to do everything needed for your podcast can make planning and promoting a much easier and more seamless experience – and the best feature of Sounder is that it’s free! 

6. Recording equipment required

There is a variety of recording and editing equipment that you may require, depending on the type of podcast you’re creating and your budget. 

Many new podcasters make the mistake of either buying too much equipment that they won’t need, or taking too long to decide on what they should get. 

It’s important to do some research into what you’ll need specific to your podcast production, but also to take action and make a decision so you can get started and record your first episode. 

DigitalMarketer provides a great explanation and breakdown of the podcasting equipment you may need, and how you can start creating your podcast on a shoestring budget

Recording software can range greatly in cost, so if you’re just starting out with your podcast recording, you may want to keep costs more manageable until your 

The sound quality of your podcast will heavily depend on the equipment and software you choose and what you will be using it for. Whether you are speaking with remote guests or in-house guests, for example, may influence the type of audio recording equipment you will need.

If you are not well versed with audio editing, you may need to outsource this task, however there are now a number of user-friendly options for audio editing software that make podcast editing simple, even for amateur podcasters.

7. All the extras

Even though we’re taught not to judge a book by its cover, the fact is that this will inevitably happen. So, adding some eye-catching cover art and podcast music can go a long way in attracting new listeners.

There are a few things to keep in mind when designing your podcast cover art:

  • Keep it simple – Less is usually more and, in general, clean, uncluttered images can be much more eye-catching than a busy illustration.
  • Podcast description – Overall, the cover art should give a general idea of the subject and tone of the podcast.
  • Different devices and platforms – Remember that, depending on where your audience searches and listens to podcasts, the image may either be quite small or much larger. Tailor the cover art to suit either instance.

8. Launch your podcast

Once you’ve recorded and edited your first few podcast episodes, you should be ready to look into launching your podcast for listeners. 

You can submit your podcast on a number of hosting platforms, depending on what vision you have for growing the podcast. The Podcast Host outlines their favourite podcast hosting services, but names their top three as Buzzsprout for overall cost, Captivate for features and growth potential, and Transistor for private feed features.

Have your content ready to record additional episodes, so you’re able to post new podcast episodes regularly. Once you launch your podcast, you’ve got to stay on schedule with new content. 

How can you protect your podcast name?

As your business grows and your successful podcast becomes increasingly recognized, you may start looking at ways you can protect both the business and podcast names. There are two ways of protecting the name you are operating under – either through Trademarking or Incorporating.

Both Trademarking and Incorporating offer name protection within the jurisdiction they are registered. Trademarking is generally done with logos or slogans, and protects your information from being used by anyone else in your jurisdiction. Trademarking is the highest level of protection you can have within Canada, and you may wish to contact a Trademarking agent if this is what you wish to have registered.

If you are conducting business under a name and are looking at protecting that business name from being used by anyone else, Incorporating may be what you’re looking for. Corporations have name protection within their jurisdictions. If you currently have a small business registration and want to gain name protection, you may want to consider incorporating. 

Ontario Business Central can assist with incorporating in the following jurisdictions:

INCORPORATIONS

  • FEDERAL INCORPORATION
  • ALBERTA INCORPORATION
  • BRITISH COLUMBIA INCORPORATION
  • MANITOBA INCORPORATION
  • ONTARIO INCORPORATION
  • SASKATCHEWAN INCORPORATION

How much money can you make from a podcast?

Monetizing your podcast can be done in a number of ways, and all depends on how you plan to use your podcast in conjunction with your business. 

Whether you want to start podcasting to enhance your business reach or you want to make the podcast itself the business, there are ways to make money from your podcast, either directly or indirectly.

Whether you are already running your business or you’re just getting started, having a podcast included in your business plan can be an incredibly effective tool for reaching your customers, providing valuable information and establishing yourself as an authority in your field. 

Author Bio: This article was written by the team at Ontario Business Central

Ontario Business Central aims to provide great resources for new and existing business owners. 

Ontario Business Central has been assisting clients to open, change and cancel their businesses since 1992.  Should you have any questions, please feel free to reach out to their staff for addition

About the author

MicroStartups

A team of writers and marketers, MicroStartups was founded to inspire the entrepreneurial and business community to give back. We believe in business growth through giving and supporting the local community.

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